Slowing Growth and Wide Bottom-Line Loss Send Blue Apron Shares 15% Lower
Blue Apron Holdings, Inc. (NYSE: APRN), a food delivery subscription service company that recently went public on the New York Stock Exchange, is having another rough day as shares plunged 15% as of 11:30 a.m. EDT following a wider-than-expected second-quarter loss.
Blue Apron's second quarter seemed to be a case of "good but not good enough." The company's net revenue jumped 18% compared to the prior year, to $238.1 million during the second quarter, which was higher than analysts' estimates calling for $235.8 million. Wall Street's issue with the results seemed to be on the bottom line, where Blue Apron reported a net loss of $31.6 million, or $0.47 per share -- a reversal from the prior year's $5.5 million net income. Furthermore, that loss per share was more than analyst estimates for a more modest $0.27 per share.
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Source: Fool.com
